{"id":2802,"date":"2023-10-02T17:14:43","date_gmt":"2023-10-02T17:14:43","guid":{"rendered":"https:\/\/ceo.com.pl\/en\/?p=2802"},"modified":"2023-10-02T17:23:24","modified_gmt":"2023-10-02T17:23:24","slug":"bitcoin-and-ethereum-are-growing-but-the-fed-and-oil-prices-may-have-a-cooling-effect-95831","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/bitcoin-and-ethereum-are-growing-but-the-fed-and-oil-prices-may-have-a-cooling-effect-95831\/","title":{"rendered":"Bitcoin and Ethereum are growing, but the Fed and oil prices may have a cooling effect"},"content":{"rendered":"

Bitcoin has spiked late in the week after the US congress hashed out a deal to prevent a government shutdown.\u00a0<\/strong><\/p>\n

Bitcoin saw a strong week of performance, beginning below $26,000 but rising steadily to spike late last night, surging close to $28,000 on the eToro platform, for a 7.4% gain over seven days.<\/p>\n

Ether saw similarly strong activity over the week having begun around $1,550 but climbing to now trade above $1,700 – a 9.4% rise week-on-week.<\/p>\n

Markets appear to have taken positively to the avoided shutdown in the US Government although it is a temporary reprieve. This week will see some potential news for markets to digest as Fed chair Jerome Powell speaks today, while we have an OPEC meeting on Wednesday with US jobs on Friday.<\/p>\n

The Fed and oil prices have been consistently powerful macro influencers on the crypto market in the past couple of years. At the late stage of the rate hike cycle we\u2019re in, the market is looking for further good news to push on but with oil prices rising again this could have a cooling effect on sentiment.<\/p>\n

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